FRIDAY, DECEMBER 12, 1986
FORD TO ACT AS CHIEF SECRETARY
*****
THE GOVERNMENT TODAY (FRIDAY) ANNOUNCED THE APPOINTMENT OF MR DAVID FORD AS ACTING CHIEF SECRETARY AS FROM MONDAY, DECEMBER 15.
MR FORD HAS BEEN THE SECRETARY FOR THE CIVIL SERVICE SINCE OCTOBER 1985.
ANNOUNCEMENTS IN TODAY'S GAZETTE ALSO SAID THAT DEPUTY SECRETARY FOR THE CIVIL SERVICE, MR HAIDER BARMA WILL ACT AS SECRETARY FOR THE CIVIL SERVICE, ALSO FROM MONDAY.
COMPANIES AMENDMENT BILL PUBLISHED
*****
CERTAIN LEGISLATIVE CHANGES PROPOSED BY THE STANDING COMMITTEE ON COMPANY LAW REFORM ARE CONTAINED IN THE COMPANIES (AMENDMENT) BILL 1986 PUBLISHED IN THE GAZETTE TODAY (FRIDAY).
A SPOKESMAN FOR THE MONETARY AFFAIRS BRANCH SAID THESE PROPOSED LEGISLATIVE AMENDMENTS WERE MADE AFTER THE STANDING COMMITTEE HAD CAREFULLY CONSIDERED THE PUBLIC COMMENTS ON THE COMMITTEE'S TWO REPORTS PUBLISHED IN JUNE 1985 AND MARCH 1986.
THE STANDING COMMITTEE WAS APPOINTED IN JANUARY 1984 TO ADVISE THE FINANCIAL SECRETARY ON AMENDMENTS TO THE COMPANIES ORDINANCE AS AND WHEN EXPERIENCE SHOWS THEM TO BE NECESSARY.
THE RECOMMENDATIONS BY THE COMMITTEE COVERED IN THIS AMENDMENT BILL INVOLVE THE EXTENSION OF THE POWERS OF INSPECTORS APPOINTED BY THE FINANCIAL SECRETARY TO INVESTIGATE THE AFFAIRS OF A COMPANY AND THE PRESENTATION OF ACCOUNTS.
THE OPPORTUNITY IS ALSO TAKEN TO TIDY UP THE COMPANIES ORDINANCE RELATING TO THE PRIORITY OF DEBTS OF A COMPANY IN RECEIVERSHIP.
MAJOR PROPOSALS IN THE BILL INCLUDE:
* POWER OF INSPECTORS
INSPECTORS APPOINTED TO INVESTIGATE THE AFFAIRS OF A COMPANY WILL BE EMPOWERED TO EXAMINE ON OATH ANY PERSON THEY THINK IS, OR MAY BE. IN POSSESSION OF ANY INFORMATION CONCERNING THE COMPANY'S AFFAIRS.
+
THE INSPECTORS